AI-resistant ‘halo’ stocks drive UK and EU markets to record highs

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Investors shifting to ‘heavy-asset, low-obsolescence’ companies insulated from disruption, says Goldman Sachs

Investors have a new mantra as they prepare for AI to shake up the global economy – the Halo trade.

Interest in Halo – short for “heavy assets, low obsolescence” - has risen as investors seek out companies with tangible, productive assets, which might be insulated from AI disruption, such as energy and transport infrastructure companies.

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US-Israel war on Iran: Ayatollah Ali Khamenei confirmed dead by state media; Iran launches fresh strikes – latest reports

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US president says Khamenei’s death is ‘justice for the people of Iran’ as he repeats call for regime change; Iran targets US bases in region

Loud explosions were heard early on Sunday near Erbil airport, which hosts US-led coalition troops in Iraq’s autonomous Kurdistan region, AFP reported. Thick black smoke was rising from the airport area.

On Saturday, US-led coalition forces downed several missiles and explosive-laden drones over Erbil.

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An ugly year for the Louvre: where does the world’s biggest museum go from here?

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After a heist and the departure of its boss, the French institution wrestles with water leaks, strikes and much-criticised plans for a €1bn renovation

Just over a year ago, Laurence des Cars, the intellectually brilliant (if famously prickly) former head of the largest and most-visited museum in the world, wrote a somewhat alarming note to her boss, France’s culture minister.

Des Cars, who on Tuesday resigned as president of the Louvre, lamented the advanced state of disrepair of the iconic museum’s buildings and galleries.

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Flights from Australia to Middle East cancelled – as it happened

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The foreign minister, Penny Wong, says Australia was not told in advance about the bombing of Iran but won’t say whether intelligence facilities here were used.

“We weren’t told advance. You wouldn’t expect us to be but you would see there’s obviously been a lot of discussion,” she said.

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